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    388 Frederick St Mount Airy, NC 27030

    Sponsored
    For Lease
    Contact for pricing

    Enclosed Mall, 16 Suites, 49,871 SF Vacant

    Lot size:
    207,542 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    Mayberry Mall presents a unique investment opportunity in Surry County. This 207,542 square-foot enclosed regional mall, the only one within a 40-mile radius, underwent a complete redevelopment in the summer of 2021. Originally constructed in 1968, the property now offers 16 available suites, ranging in size from a minimum of 1,226 square feet to a maximum contiguous space of 7,317 square feet. A significant 49,871 square feet of vacant space is currently available, providing substantial potential for new tenants and revenue generation. The mall benefits from a strong trade area, drawing customers from a five-county region encompassing over 226,624 residents, extending into southern Virginia. This prime location, coupled with the recent renovations, positions Mayberry Mall for continued success and growth. The property's strategic location and substantial size make it an attractive investment for both established and emerging businesses seeking a presence in a thriving regional market. The redevelopment has created a modern and updated shopping experience, attracting a diverse range of potential tenants. This opportunity allows investors to capitalize on a well-positioned, renovated retail center with significant upside potential.

    Property Features for 388 Frederick St

    General Information

    Property type
    Shopping centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    207,542 SF

    Building Details

    Year Built/Renovated
    1968/2021

    Unit(s) available at that property

    Space
    space 3
    Size
    7,317 SF
    Space
    space 4
    Size
    2,527 SF
    Space
    space 5
    Size
    6,982 SF
    Space
    space 6
    Size
    6,106 SF
    Space
    space 10
    Size
    1,194 SF
    Space
    space 12
    Size
    1,970 SF
    Space
    space 13
    Size
    2,453 SF
    Space
    space 14
    Size
    1,182 SF
    Space
    space 15
    Size
    3,578 SF
    Space
    space 16
    Size
    1,771 SF
    Space
    space 17
    Size
    1,807 SF
    Space
    space 18
    Size
    1,226 SF
    Space
    space 20
    Size
    1,258 SF
    Space
    Outlot Pad
    Size
    6,000 SF
    Space
    Suite 9
    Size
    4,500 SF
    Space
    space7
    Size
    20,243 SF

    HighLights

    • Retail shopping center totaling 207,542 square feet.
    • Multiple tenancy with 16 suites available.
    • Spaces range from 1,226 to 7,317 contiguous square feet; 49,871 square feet currently vacant.
    • Built in 1968, renovated in 2021.
    • Located in Surry County.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mayberry Mall Shopping Mall Bark Mobile Mayberry ... Cell Phone Store Amazon Locker Iside Shipping And Mailing Service Amazon Hub Locker ... Shipping And Mailing Service

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mount Airy
    County
    Surry
    State
    North Carolina
    Longitude
    -80.6208933
    Latitude
    36.4987376

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    FAQs

    What type of property is this?
    Shopping center - Enclosed Mall, 16 Suites, 49,871 SF Vacant
    Where is this shopping center located?
    The property is located at 388 Frederick St Mount Airy, NC.
    What are key features of this property?
    This property features: Retail shopping center totaling 207,542 square feet.; Multiple tenancy with 16 suites available.; Spaces range from 1,226 to 7,317 contiguous square feet; 49,871 square feet currently vacant.
    Request Owner's contact information
    388 Frederick St Mount Airy, NC 27030
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    388 Frederick St Mount Airy, NC 27030
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